According to IMARC Group latest report titled” Home Automation System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market reached a value of US$ 60.2 Billion in 2020. The global Home Automation System market to grow at a CAGR of 8.7% during 2021-2026. Home automation systems refer to computer-dependent control systems which are installed in homes to automate, control and monitor several appliances and electrical equipment. The systems utilize a combination of hardware and software that enables control over devices around the house with the touch of a button. They include automated ventilation, heating, cooling, entertainment, lighting, power, fire, alarm and security systems. They employ sensors, actuators and control devices to detect triggers and further send data to the central controller. Installing these systems in residential premises offers various benefits such as improved security and energy savings.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The growing incidences of thefts and breaches along with increasing consumer concerns towards home safety are driving the market for home automation. These systems help in minimizing potential crimes and enhancing operational efficiency. Moreover, the elevating consumer living standards and easy availability of affordable home automation solutions are also propelling the market growth across the globe. Besides this, the rising integration of several advanced technologies, such as IoT and AI, with home automation systems for offering high-grade solutions is further augmenting the global market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Siemens AG
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Schneider Electric SE
- Legrand SA
- Ingersoll-Rand PLC
- ABB Ltd.
- Acuity Brands, Inc.
- Samsung Electronics Co., Ltd.
Home Automation System Market Segmentation:
Our report has categorized the market based on region, application and type.
Market Breakup by Application:
- Lighting control
- Security and access control
- HVAC control
- Entertainment and other controls
Market Breakup by Type:
- Luxury (Custom)
- DIY (Do-It-Yourself)
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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